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One of your top clients receives a gift that she’s been eyeing for months — a platinum and diamond necklace. The next day she calls your office and asks a very important question, “What happens if my necklace is lost or stolen from my home?” Clients often have questions when they have valuable pieces of art or jewelry in their home. Let’s examine three questions your clients may ask when inquiring about coverage for their valuable personal articles.

Do I need coverage for valuables in my home? Why?

Clients often spend years and a significant amount of money building a collection of items they’ve grown to love. Wouldn’t they want to be covered should something happen to their items? When it comes to jewelry, industry growth is making it more expensive to purchase new jewelry and to replace lost, stolen or damaged items. Having valuables covered can save your clients from hefty out-of-pocket costs should something happen to their valuables.

Are my items covered under my homeowner’s policy?

Assuming all of their valuables are covered under a homeowner’s policy is one of the most common misconceptions insureds have. A typical homeowner’s policy is designed to primarily protect your home, personal liability and general contents of the home. Limits for valuable possessions, such as jewelry and works of art, range from $1,000 to $5,000. If insureds rely solely on their homeowner’s policy, they will mostly likely have out-of-pocket expenses if valued possessions are lost, stolen or damaged.

What is valuable article insurance?

Valuable article insurance covers valuable personal articles, such as art or jewelry, should the items be lost, stolen or damaged. ASL’s personal lines team is here to help your clients find coverage for their items. What are some of the features of ASL’s valuable article insurance?

Able to quote as a stand-alone policy.

Appraisals only needed for jewelry over $5k and fine art items over $10k

Options available to schedule items or write as a blanket policy.

Reduced premium for items kept in a bank vault or safe.

No deductible requirements.

Knowing the answers to questions your clients may have about their personal articles is mutually beneficial for you and your clients. Contact a member of ASL’s personal lines team to find out more about valuable articles insurance through ASL.